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AFRICOAST ENERGY LAUNCHED
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AFRICOAST ENERGY LAUNCHED

FOLLOWING significant growth in the renewable energy business, 
AfriCoast Engineers SA has developed a sister company to exapnd
its vision.
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DBSA reports higher interim net profit, operating income

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The Development Bank of Southern Africa (DBSA) has reported a 9.3% year-on-year increase in its net interest income to R4.4-billion and a 55.9% increase in operating income to R5.6-billion for the six months to September 30. Net profit increased by 91.2% to R4.1-billion and the annualised return on equity (ROE) on net profit increased to 13.8%, while the cost-to-income ratio improved to 20.1%.

SAPVIA urges stakeholders to actively shape incoming SSEG safety standard

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The South African Photovoltaic Industry Association (SAPVIA) says the quickest and most effective way to resolve the ongoing debate on safety and compliance for small-scale embedded generation (SSEG) is to finalise the new South African National Standard (SANS) 10142-1 safety standard. SAPVIA says it has carefully considered the extensive public debates and media coverage on the safety and compliance of SSEG systems – up to 1 MVA – together with the Association of Municipal Electricity Utilities (Ameu), the Electrical Contractors Association of South Africa and the Organisation Undoing Tax Abuse.

Volkswagen completes second phase of R90m Kariega solar project

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Volkswagen Group Africa (VWGA) has completed the second phase of a solar PV project at its Kariega manufacturing plant, in the Eastern Cape. The multiphase solar project, located at the VWGA employee car park, began in 2022 as part of the car maker’s long-term plan to transition its operations toward renewable-energy sources.

More sluice gates closed at Vaal

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Four sluice gates at the Vaal dam remain open after the Department of Water and Sanitation (DWS) closed two more on Tuesday. The first gate was closed at 10:00 and the second gate at 12:00 to reduce water outflows at the dam as water inflows continue to decline.

GDP grows by 0.5% in the third quarter

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South Africa’s GDP increased by 0.5% in the third quarter, following an increase of 0.9% in the second quarter, Statistics South Africa (Stats SA)reports. The trade, catering and accommodation industry increased by 1%, contributing 0.1 of a percentage point to GDP growth. Increased economic activities were reported for wholesale trade, retail trade, motor trade, accommodation and food and beverages.
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